Panama commits to financial transparency

Hanoi (VNA) - Vice President of the Republic of Panama Isabel de Saint Malo de Alvarado has affirmed that Panama remains fully committed to bilateral automatic exchange of information consistent with the goals of the Common Reporting Standards as part of its commitment to financial transparency.

The following is the full text of the Statement regarding Panama's commitment to financial transparency by Vice President Isabel de Saint Malo de Alvarado, who is also Minister of Foreign Affairs.

“As President Juan Carlos Varela has stated clearly and unequivocally, Panama's path to financial transparency is irreversible. To that end, we willingly and actively support diplomatic dialogue and domestic reform to address this global challenge.

As Panama has reiterated on multiple occasions to members of the OECD, we are fully and immediately committed to the implementation of bilateral automatic exchange of information consistent with the goals of the Common Reporting Standards.

Further, we are open and willing to engage in ongoing international dialogue with relevant technical teams to evaluate the specific multilateral mechanisms needed to implement these standards.

As we leave the door open to these discussions regarding CRS mechanisms, we remain fully committed to bilateral automatic exchange of information"./.